By Christine Van Dusen
Atlanta, Oct. 24 – Chile’s E-CL SA priced $350 million of 4˝% 10-year notes (expected ratings: /BBB/BBB) at 99.455 to yield 4.568%, or Treasuries plus 230 basis points, a market source said.
The notes were talked at a spread in the 250 bps area.
BofA Merrill Lynch, Citigroup, HSBC, BTG Pactual and Credit Agricole CIB were the bookrunners for the Rule 144A and Regulation S deal.
The proceeds will be used for the repayment of outstanding project financing loans and costs arising from the early termination of related interest-rate swaps.
E-CL is a Santiago, Chile, holding company with assets in electricity and natural gas.
| Issuer: | E-CL SA
|
| Amount: | $350 million
|
| Maturity: | Jan. 29, 2025
|
| Description: | Notes
|
| Bookrunners: | BofA Merrill Lynch, Citigroup, HSBC, BTG Pactual, Credit Agricole CIB
|
| Coupon: | 4˝%
|
| Price: | 99.455
|
| Yield: | 4.568%
|
| Spread: | Treasuries plus 230 bps
|
| Trade date: | Oct. 24
|
| Settlement date: | Oct. 29
|
| Expected ratings: | Standard & Poor’s: BBB
|
| Fitch: BBB
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Treasuries plus 250 bps area
|
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